Kingdee Raises HKD 138 mln Financing

<- April 16, 2008 ->

Sina Tech, 4/16/08

Management software manufacturer Kingdee (0268.HK) announced that yesterday it completed a sale of 20 mln shares of stock, raising a total of HKD 138 mln. This is the first time in the company's three years of being listed that it has sought to raise further capital, which it will use in its transition from a product-oriented company to a service-oriented company.

Specifically, Kingdee will use the capital raised in four areas: firstly, for acquisitions of industry ERP and applications services businesses, as well as online management and e-commerce businesses; secondly, for R&D and promotions on high-end ERP and SaaS; third, for the recruitment of senior applications management consultants; fourth, for the expansion of sales and services channels and its partner ecosystem.

Keywords: M&A, Software as a Service, strategy, HR, 0268.HK, e-commerce, ERP, financing, Kingdee, R&D, software

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